executive payouts
Another law of thermodynamics: No matter what, CEO's will find a way to pay themselves the big bucks
On top of all those AIG posh executive retreats, there's news now that three days before Lehman Brother went belly-up, the board of directors voted $100m worth of payouts to execs, including about $25m in severance pay. Now, the New York Times finds pessimism over the effectiveness of the pay restrictions in the latest bailout legislation (which were prompted by national outrage over "golden parachutes"). (Contrary: In a survey, 2/3 of chief financial officers said CEO's in general are overpaid . . but not their own company's CEO, where the number's only 1/4.) The Times (London) /// New York Times /// Portfolio.com
On top of all those AIG posh executive retreats, there's news now that three days before Lehman Brother went belly-up, the board of directors voted $100m worth of payouts to execs, including about $25m in severance pay. Now, the New York Times finds pessimism over the effectiveness of the pay restrictions in the latest bailout legislation (which were prompted by national outrage over "golden parachutes"). (Contrary: In a survey, 2/3 of chief financial officers said CEO's in general are overpaid . . but not their own company's CEO, where the number's only 1/4.) The Times (London) /// New York Times /// Portfolio.com
Comments
I offered to run Lehman Brothers into the ground for only $250k per year with a $1M golden umbrella but they sited the fact that I had more common sense that a rock that I was over qualified. But had I asked for more money they would have given my resume more consideration.
Posted by Expat47 in Athens, Greece on 10/15/08 at 09:50 AM
Perhaps I should post a resume on Monster.com:
Willing to run a company into the ground for 1/4 less than what your competition pays.
:roll:
Willing to run a company into the ground for 1/4 less than what your competition pays.
:roll:
Posted by KW in Dallas, TX on 10/15/08 at 10:17 AM
Have you ever checked out http://www.ladders.com? Or maybe it's theladders.com... 100k+ jobs for 100k+ people.
Their slogan is seriously: Because when everyone plays, nobody wins.
Their slogan is seriously: Because when everyone plays, nobody wins.
Posted by kingmonkey in Athens, Ontario on 10/15/08 at 11:13 AM
There's a commercial for that website out here. Some guy trying to play tennis and suddenly there's a ton of people on the court who have no idea what they're doing messing him up.
Posted by Jules in Connecticut on 10/15/08 at 11:22 AM
Illegalize golden parachutes, and raise the tax rate to 50% on incomes over $1M/yr.
Posted by stpatme on 10/15/08 at 10:23 PM
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